Despite COVID-19, remittance flows remained resilient in 2020, registering a smaller decline than previously projected. Officially recorded remittance flows to low- and middle-income countries reached $540 billion in 2020, just 1.6 percent below the 2019 total of $548 billion, according to the latest Migration and Development Brief.
The pandemic is crippling economies across the globe but for many countries, the economic shock will be magnified by the loss of remittances—money sent home by migrant and guest workers employed in foreign countries. In this podcast, the IMF presents remittances as a lifeline for low-income and fragile states that when migrants lose their jobs those remittance flows stop. It's in everyone's interest for host countries to help support migrant workers through the pandemic.
International days and weeks are occasions to educate the public on issues of concern, to mobilize political will and resources to address global problems, and to celebrate and reinforce achievements of humanity. The existence of international days predates the establishment of the United Nations, but the UN has embraced them as a powerful advocacy tool. We also mark other UN observances.